China banks slow lending due to quota limits

08:11, December 03, 2010      

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Chinese banks have slowed their pace of lending after almost depleting this year's quota and as regulators urged them to control credit expansion toward the year-end, Reuters reported on Dec 2, citing the Shanghai Securities News.

Some branches of Chinese banks have already stopped lending, and are starting to prepare for next year's business, the newspaper said.

China's new lending totaled 6.88 trillion yuan ($1 trillion) during the first 10 months of this year, compared with the annual target of 7.5 trillion yuan, leaving little room for credit expansion in December, the newspaper said.

Source: China Daily/Agencies&

(Editor:李佳)

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